AMMAN -- Amman Stock Exchange (ASE) Chief Executive Officer Jalil Tarif expressed optimism recently that non-Jordanian investments in Amman Bourse would continue to grow in 2012 in spite of ongoing turmoil in the region.
"I am optimistic about 2012, especially as far as foreign investments in the bourse are concerned. Non-Jordanian investments are institutionalised and I expect that to continue," Tarif told The Jordan Times in an interview.
"Non-Jordanian investments in the bourse are not considered hot money. But are strategic," he said.
Last year, non-Jordanian investors bought shares worth a total of JD555.8 million, representing 19.5 per cent of the overall trading value, while the value of shares sold by them amounted to JD477.2 million.
As a result, the net of non-Jordanian investments in 2011 showed an increase of JD78.6 million compared with a JD14.6 million diminution in 2010, according to the ASE figures.
Arab investors' purchases in 2011 were JD364.7 million, or 65.6 per cent of the overall purchases by non-Jordanians, while the value of non-Arab purchases amounted to JD191.1 million, constituting 34.4 per cent of the overall purchases by non-Jordanians.
Tarif expected the majority of companies listed on Amman Bourse to announce positive 2011 financial results noting that, in general, there was about 15 per cent growth in companies' profits in the first nine months of 2011.
"I predict an improvement in companies' profits in 2011 in spite of negative consequences on the bourse in light of economic and political developments in the region," he said.
The ASE trading value last year dropped by about 57 per cent to JD2.9 billion compared to JD6.7 billion in 2010 as a result of economic and political troubles in the region.
© Jordan Times 2012
